When you choose the Smart Savings option, our algorithm analyzes your checking account daily. We review your spending, income (plus expected paychecks), your predicted account balance fluctuations during the month, and upcoming bills. From there, we determine how much you can safely save.
You can expect to save $25–$100 per week, usually spread across 2–4 transactions ranging from $5–$30 each. If we determine that you have sufficient cash on hand to save, we will transfer savings from your connected checking account to your Albert Savings account.
If you don't subscribe to Genius, you can still benefit from Smart Savings. However, we will only initiate 1 Savings transaction per week.
To avoid overdrawing your account, we do not initiate a Savings transfers when your bank balance is too low. We determine Smart Savings amounts at the time of transfer.
Since transfers can take 2–3 business days to process, we work hard to avoid initiating a transfer if there is a risk of your balance decreasing significantly before the transfer completes.